Reformed Pensions Systems in Central and Eastern Europe: Challenges to future safe pension benefits

Lazarevski, Dimche and Mrsik, Jadranka (2012): Reformed Pensions Systems in Central and Eastern Europe: Challenges to future safe pension benefits. Published in: Development Economics: Microeconomic Issues in Developing Economies eJournal , Vol. 1, No. 48 (12 September 2012)

Abstract

The objective of this paper is to examine and analyze empirically whether the Central and Eastern Europe countries` reformed pension systems are providing adequate and safe pensions. Starting in 1990s, most Central and Eastern European countries radically reformed their pension systems. The rising optimism initiates many studies where the advantages of the reforms were in the focus. The global financial crisis negatively affects the reformed pension systems. As a response, the policy makers in few of those countries decided to set up different measures: increasing or reducing the pension contribution for alleviating the fiscal deficit or encouraging the employment, adapting the contribution rate and allowing individuals to switch back to the old system. These last changes in the pension systems have triggered the following question: How much and in which way the implementation and experiences gained with the functioning of the reform pension system will have impact in the future pension adequacy and sustainability of the pension system?

• Item Type: MPRA Paper
• Language: English
• Keywords: reformed pension systems, financial crisis, sustainability of pension systems, government measures, pension contributions, pension benefits
• Subjects: H - Public Economics > H5 - National Government Expenditures and Related Policies > H55 - Social Security and Public Pensions; G - Financial Economics > G2 - Financial Institutions and Services > G23 - Non-bank Financial Institutions ; Financial Instruments ; Institutional Investors; J - Labor and Demographic Economics > J3 - Wages, Compensation, and Labor Costs > J32 - Nonwage Labor Costs and Benefits ; Retirement Plans ; Private Pensions; J - Labor and Demographic Economics > J2 - Demand and Supply of Labor > J26 - Retirement ; Retirement Policies; G - Financial Economics > G1 - General Financial Markets > G10 - General

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